Reader small image

You're reading from  Practical Machine Learning Cookbook

Product typeBook
Published inApr 2017
Reading LevelIntermediate
PublisherPackt
ISBN-139781785280511
Edition1st Edition
Languages
Right arrow
Author (1)
Atul Tripathi
Atul Tripathi
author image
Atul Tripathi

Atul Tripathi has spent more than 11 years in the fields of machine learning and quantitative finance. He has a total of 14 years of experience in software development and research. He has worked on advanced machine learning techniques, such as neural networks and Markov models. While working on these techniques, he has solved problems related to image processing, telecommunications, human speech recognition, and natural language processing. He has also developed tools for text mining using neural networks. In the field of quantitative finance, he has developed models for Value at Risk, Extreme Value Theorem, Option Pricing, and Energy Derivatives using Monte Carlo simulation techniques.
Read more about Atul Tripathi

Right arrow

Markov chains - the car rental agency service


Suppose a car rental agency has three locations in Ottawa: A downtown location (labeled A), A East End location (labeled B), and a West End location (labeled C). The agency has a group of delivery drivers to serve all three locations. The agency's statistician has determined the following:

  • Of the calls to the Downtown location, 30% are delivered in the Downtown area, 30% are delivered in the East end, and 40% are delivered in the West end
  • Of the calls to the East end location, 40% are delivered in the downtown area, 40% are delivered in the East end, and 20% are delivered in the West end
  • Of the calls to the West end location, 50% are delivered in the Downtown area, 30% are delivered in the East end, and 20% are delivered in the West end

After making a delivery, a driver goes to the nearest location to make the next delivery. This way, the location of a specific driver is determined only by their previous location.

How to do it...

Let's get into the...

lock icon
The rest of the page is locked
Previous PageNext Page
You have been reading a chapter from
Practical Machine Learning Cookbook
Published in: Apr 2017Publisher: PacktISBN-13: 9781785280511

Author (1)

author image
Atul Tripathi

Atul Tripathi has spent more than 11 years in the fields of machine learning and quantitative finance. He has a total of 14 years of experience in software development and research. He has worked on advanced machine learning techniques, such as neural networks and Markov models. While working on these techniques, he has solved problems related to image processing, telecommunications, human speech recognition, and natural language processing. He has also developed tools for text mining using neural networks. In the field of quantitative finance, he has developed models for Value at Risk, Extreme Value Theorem, Option Pricing, and Energy Derivatives using Monte Carlo simulation techniques.
Read more about Atul Tripathi